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Canaccord Capital CEO Paul Reynolds speaks during the Canaccord Capital Inc.'s Annual General Meeting for shareholders in this file photo. (Rafal Gerszak/Rafal Gerszak/Globe and Mail)
Canaccord Capital CEO Paul Reynolds speaks during the Canaccord Capital Inc.'s Annual General Meeting for shareholders in this file photo. (Rafal Gerszak/Rafal Gerszak/Globe and Mail)

Canaccord posts loss on restructuring, acquisition costs Add to ...

Canaccord Financial Inc. has reported a $31.8-million loss in its fiscal fourth quarter as the firm recorded more than $40-million in restructuring and acquisition expenses.

The loss amounted to 42 cents per common share for the three months ended March 31, pushing Canaccord to a 12-month loss of $21.3-million or 33 cents per common share for its 2012 financial year.

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The quarter included $29-million of restructuring costs and $10.4-million related to the acquisition of Collins Stewart Hawkpoint as well as $1.8-million of amortization of intangible assets, Canaccord said Wednesday.

Those items cost a total of $33.9-million after tax. Excluding those items, adjusted net income was $2.1-million or two cents per common share.

A year earlier, Canaccord had a $41.3-million profit in the quarter equal to 49 cents per share before adjustments and $42.3-million or 50 cents per share excluding significant items.

In fiscal 2011, Canaccord had $99.7-million of net income or $1.22 per share before adjustments.

 
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